Tokyo Electric Power Company Holdings, Incorporated and JXTG Holdings, Inc. have agreed to invest JPY 120 billion (USD 1.087 billion) for the construction and development of a natural-gas-fired power plant sitauted in the city of Kawasaki, Japan. Tepco and JXTG will form a 50-50 joint venture (JV) in early October, for the construction of power plant and production facilities for city gas, using each other's expertise to more effectively tap markets outside their traditional turf. The plant is expected to be commercially operational by 2024.